On the heels of announcing that it may sell all but one of its nine daily newspapers, Copley Press Inc. and its flagship publication, the San Diego Union-Tribune, offered buyout options to 67 of the U-T’s most loyal employees.
Employees with 30-plus years of service have 45 days, starting Nov. 1, to decide whether they want to participate in a voluntary retirement incentive program.
“As we all know, this is a challenging period in the newspaper industry,” said U-T spokesman Drew Schlosberg. “The Union-Tribune has undertaken steps to control costs, and the voluntary retirement incentive program is part of this effort.”
Another part of the effort is the recent decision by Copley to explore options for the possible sale or merger of seven daily newspapers the company owns in Illinois and Ohio. Copley owns nine daily newspapers and is already in the process of selling its only other Southern California paper, which is in Torrance.
The voluntary retirement incentive program offered to U-T employees this month consists of 18 months of base pay and up to one year of paid medical, dental and vision insurance. The 67 longtime employees offered the deal do not include any in sales or those represented by a bargaining unit.
, Jessica Long
